Prosecutors Secure Account and Communication Data of Ra Deok-yeon in 'SG Securities-Induced Crash Incident'

Prosecutors investigating the 'SG (Soci?t? G?n?rale) Securities Crash Incident' have obtained data including the financial account details and mobile phone usage records of Ra Deok-yeon, CEO (42) of H Investment Consulting.

[Image source=Yonhap News]

According to the legal community on the 9th, the Seoul Southern District Prosecutors' Office recently obtained a court-issued search warrant (account warrant) for Ra Deok-yeon's financial accounts. The prosecutors filed the warrant request on the 3rd.

The 'SG Securities Crash Incident' involves eight stocks, including Samchully, Seongwang, and Harim Holdings, which were sold through SG Securities from the end of last month and have hit the daily lower limit continuously, raising suspicions of stock price manipulation. Financial authorities and investigative agencies believe that Ra and his accomplices recruited investors and used their mobile phones and securities accounts to conduct prearranged trades between buyers and sellers, artificially inflating stock prices through collusive trading.

By securing Ra's account details, prosecutors are now able to examine transaction records across various accounts he opened at banks and securities firms.

Additionally, prosecutors have obtained court approval (communication warrant) to review the mobile phone usage records of Ra and his associates. This is expected to reveal call and text message exchanges as well as locations where stock trading apps were used.

This content was produced with the assistance of AI translation services.